128.262] ����� 130.365 Publication of notice. After filing a petition under ORS 130.355, a trustee must cause a notice to claimants to be published once in each of three consecutive weeks in a new

128.262]

����� 130.365 Publication of notice. After filing a petition under ORS 130.355, a trustee must cause a notice to claimants to be published once in each of three consecutive weeks in a newspaper of general circulation published in the county in which the petition is filed. The notice must include:

����� (1) The name of the settlor;

����� (2) The name of the trustee and the address at which claims must be presented;

����� (3) The date of the first publication of the notice; and

����� (4) A statement that claims against the trust estate may be barred unless presented to the trustee at the address specified in the notice within four months after the date of the first publication of the notice. [Formerly 128.264]

����� 130.370 Notice to individual claimants. (1) Within three months after a petition is entered in the register of the court under ORS 130.355, or within such longer time as the court allows, a trustee must make reasonably diligent efforts to investigate the financial records and affairs of the settlor and to take such further actions as are reasonably necessary to ascertain the identity and address of each person who has or asserts a claim against the trust estate. The court shall allow the trustee as much time as requested by the trustee for the purpose of determining the claims against the trust estate. The trustee must thereafter cause to be delivered or mailed a notice containing the information required in subsection (2) of this section to the Department of Human Services and the Oregon Health Authority, or as otherwise provided by rule adopted by the authority, and to each person known by the trustee to have or to assert a claim against the trust estate. Notice under this section is not required for any claim that has already been presented, accepted or paid in full or on account of a claim that is merely conjectural.

����� (2) The notice required by this section must include:

����� (a) The name of the settlor and the last four digits of the settlor�s Social Security number;

����� (b) The name of the trustee and the address at which claims must be presented;

����� (c) A statement that claims against the trust estate that are not presented to the trustee within 30 days after the date of the notice may be barred;

����� (d) The date of the notice, which shall be the date on which the notice is delivered or mailed; and

����� (e) A certified copy of the settlor�s death record. [Formerly 128.266; 2009 c.363 �2; 2009 c.595 �90; 2011 c.720 �63; 2013 c.366 �63]

����� 130.375 Form of claim; evidence in support. (1) A claim presented under ORS 130.350 to 130.450 must:

����� (a) Be in writing.

����� (b) Describe the nature and the amount of the claim, if ascertainable.

����� (c) State the name and address of the claimant and any attorney for the claimant.

����� (2) A defect of form of a claim timely presented may be waived by the trustee or by the court.

����� (3) Upon demand of a trustee, a claimant must produce any written evidence supporting a claim made under ORS 130.350 to 130.450 and account for any written evidence supporting a claim that is not produced. [Formerly 128.268]

����� 130.380 Claim based on debt due or judgment. (1) If a claim on a debt due is presented and allowed, allowance shall be in the amount of the debt remaining unpaid on the date of allowance.

����� (2) If a judgment was entered on a claim prior to the death of the settlor, the claim shall be presented under ORS 130.350 to 130.450 in the same manner as if no judgment had been entered, and a copy of the judgment shall be attached to the claim. The claim may be disallowed only if the judgment was void or voidable, or if the judgment could have been set aside on the date of the settlor�s death, or if the claim is not presented within the time required by ORS 130.350. If the judgment was a lien against the property of the trust estate on the date of the settlor�s death, the judgment shall be treated as a claim on a debt due for which the creditor holds security. In all other respects, a claim that has been reduced to judgment shall have the same priority under ORS 130.425 as a claim that has not been reduced to judgment. [Formerly 128.272]

����� 130.385 Claim on debts not yet due. A claim on a debt not due, whether or not the creditor holds security for the claim, may be presented under ORS 130.350 to 130.450 as a claim on a debt due. If the claim is allowed, allowance shall be in an amount equal to the value of the debt on the date of allowance. The creditor, after allowance of the claim, may withdraw the claim without prejudice to other remedies. Payment on the basis of the amount allowed discharges the debt and the security, if any, held by the creditor for the claim. [Formerly 128.274]

����� 130.390 Claim on secured debt that is due. (1) A claim on a debt due for which the creditor holds security may be presented under ORS 130.350 to 130.450 as a claim on an unsecured debt due, or the creditor may elect to rely entirely on the security without presentation of the claim.

����� (2) If the claim is presented under this section, the claim shall describe the security. If the security is an encumbrance that is recorded, the encumbrance may be described by reference to the book, page, date and place of recording.

����� (3) If a claim is presented and allowed under this section, payment shall be on the basis of the amount of the debt remaining unpaid on the date that the claim is allowed.

����� (4) If the creditor surrenders the security for a claim presented and allowed under this section, payment shall be on the basis of the amount allowed.

����� (5)(a) If the creditor does not surrender the security for a claim presented and allowed under this section, and the creditor exhausts the security before receiving payment on the claim, payment shall be on the basis of the amount allowed less the amount realized on exhausting the security unless otherwise provided by law.

����� (b) If the creditor does not surrender the security for a claim presented and allowed under this section, and the creditor does not exhaust the security before receiving payment or does not have the right to exhaust the security, payment shall be on the basis of the amount allowed less the value of the security determined by agreement or as the court may order.

����� (6) The trustee may convey the secured property to the creditor in consideration of the satisfaction or partial satisfaction of the claim. [Formerly 128.276]

����� 130.395 Claim on contingent or unliquidated debt. (1) A claim on a contingent or unliquidated debt shall be presented under ORS